MNCPAGuy

Great info and comment. Thanks!

Revenue taxed before expenses? That’s not what is happening or a good way of explaining it . It’s a temporary timing difference for recognizing expenses and deducting them on the tax return.

I don’t think your interpretation is correct. All R&E costs are now required to be capitalized. “Ordinary R&E” related to 162 doesn’t exist. If it’s any sort of R&E related expense, it’s technically supposed to be capitalized.